Thailand to announce economic stimulus packages for farmers
The Thai government will announce economic stimulus packages for poor people in rural areas as part of an effort to bring GDP growth to over 3 percent in 2019, Deputy Prime Minister Somkid Jatusripitak has said.
Thai farmers are expected to benefit from new government stimulus measures (Photo:Bangkok Post)Bangkok (VNA) – The Thai government will announce economic stimulus packages for poor people in rural areas as part of an effort to bring GDP growth to over 3 percent in 2019, Deputy Prime Minister Somkid Jatusripitak has said.
The government will order the Bank for Agriculture and Agricultural Cooperatives (BAAC), Finance Ministry, Housing Fund and Industry Ministry to cooperate on taking new measures for farmers under the Pracha Rat scheme, the Deputy PM told media.
Relevant agencies will start discussion on the packages immediately, he said.
According to Deputy PM Somkid, the agricultural sector is a key economic engine for the country, but farmers have limited incomes.
The Industry Ministry must support farmers through projects to increase their efficiency and promote the development of agricultural products because the agricultural sector is being promoted as one of 12 targeted industries under the government's S-curve policy.
According to the National Economic and Social Development Council (NESDC) of Thailand, the country’s economy grew by 2.3 percent year-on-year in the second quarter of 2019 – the lowest GDP expansion since the third quarter of 2014. In the first quarter of the year, the economy grew by 2.8 percent.-VNA
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